Key Takeaways
- After-hours trading saw GameStop shares climb 13% following mysterious posts on Keith Gill’s social media account, with gains evaporating when content disappeared.
- Chewy shares experienced similar movement, climbing 3% before returning to baseline levels.
- Market observers are increasingly focused on potential GameStop–eBay combination talks following Ryan Cohen’s removal of GameStop from his profile and eBay’s appearance on GME’s investor relations site.
- A new SEC filing reveals GameStop’s plan to expand authorized Class A shares from 1 billion to 2.5 billion for potential acquisition purposes.
- The company has put forward an approximately $56 billion offer for eBay, with Cohen outlining $2 billion in projected annual cost reductions.
Monday’s after-hours session delivered dramatic price action for GameStop shares, driven by fleeting activity on Keith Gill’s social media presence—the trader widely recognized as Roaring Kitty.
Shares rocketed upward by 13% before completely unwinding those advances and trading in negative territory. The rapid reversal occurred following the removal of two posts—one depicting a feline image, another featuring Pepe the Frog adorned with Roaring Kitty’s iconic red bandanna—around 5:40 p.m. Eastern time, roughly 60 minutes after their initial appearance.
Chewy experienced comparable price behavior, advancing 3% before eliminating the entire move. Ryan Cohen, who currently serves as GameStop’s chief executive, originally established Chewy.
Gill’s social media activity has historically influenced trading patterns. A mysterious message posted in late 2024 propelled GameStop higher and activated volatility circuit breakers. AMC Entertainment witnessed similar upward momentum during that same period.
eBay Acquisition Rumors Intensify
The volatile after-hours session unfolded during a day already filled with discussion regarding a potential GameStop–eBay business combination.
Market participants observed that Cohen had eliminated GameStop from his social media profile information. Simultaneously, eBay made an appearance on GameStop’s investor relations section. Both organizations have refrained from publicly acknowledging any combination discussions.
The investor relations page modification connects to regulatory documents concerning GameStop’s approximately $56 billion acquisition proposal for eBay. Should the transaction materialize, it would rank among the most ambitious takeover initiatives ever launched by an enterprise of GameStop’s scale.
Cohen’s presentation highlights $2 billion in yearly cost efficiencies within twelve months of deal completion, with Cohen personally assuming leadership of the merged entity.
Stock Authorization Expansion Increases Attention
Monday also brought GameStop’s SEC submission requesting authorization to expand Class A shares from 1 billion to 2.5 billion. Management indicated the expansion would facilitate acquisitions, capital raising initiatives, and organizational restructuring.
Following the eBay proposal announcement, Cohen has openly challenged eBay’s financial results, highlighting declining operating profitability and expanding expenses.
Skepticism exists among some market participants. Michael Burry—the prominent investor famous for his “Big Short” wager—has liquidated his GameStop holdings, prompting concerns regarding the company’s expanding debt obligations.
Anthony Pompliano, who leads Professional Capital Management as CEO, announced via X that a Tuesday interview with Cohen is scheduled.
Year-to-date performance through 2026 shows eBay stock advancing more than 24%. GameStop shares have climbed over 15% during the same timeframe.
